Report Ocean has recently published a comprehensive report on the global Intelligent Vending Machine market, providing valuable insights into the various factors influencing its growth. The report offers a deep analysis of market drivers, constraints, and opportunities, allowing readers to gain a thorough understanding of market dynamics. Additionally, it presents a detailed examination of industry trends and developments that are shaping the global Intelligent Vending Machine market. The report includes a comprehensive assessment of the market at both the global and regional levels, providing invaluable insights for businesses and stakeholders.
Market Overview
In 2021, the global Intelligent Vending Machine market reached a size of $19,311 million. It is projected to experience significant growth, with a forecasted market size of $51,441.4 million by 2030, reflecting a compound annual growth rate (CAGR) of 11.1% during the forecast period (2022-2030).
Get a Free Sample PDF copy of the report @https://reportocean.com/industry-verticals/sample-request?report_id=Pol1244
Factors Influencing the Market
Several key factors are driving the growth of the global Intelligent Vending Machine market:
- UI-Based Transactions: Intelligent vending machines are widely adopted due to the growing demand for user interface-based transactions. Contactless transactions are gaining popularity with the increasing use of ATM cards and mobile banking.
- Technological Advancements: The rising number of technological advancements and changes in consumer purchasing patterns are forecasted to benefit the market during the study period.
- Commercial Adoption: The growing number of commercial places and retail shops are adopting vending shops to avoid any delays in service, which will benefit the market.
- Junk Food Demand: The rising inclination toward junk food is expected to benefit the Intelligent Vending Machine market.
COVID-19 Impact Analysis
The sales of junk food decreased in the first half of 2020 due to government-imposed lockdown measures during the COVID-19 pandemic. However, the market rebounded after lockdown restrictions were lifted. Businesses adapted to the pandemic by supplying hygienic products, including masks, which increased market demand. For instance, in 2020, Fuji Electric Co., Ltd. developed a smart vending machine that offers hygienic items like masks, wet tissues, and disinfectant sprays.
Regional Analysis
- North America: North America holds the largest share in the Intelligent Vending Machine market. The region’s growth is attributed to the increasing installation of vending machines in retail stores, commercial places, and supermarkets. The region’s emphasis on advanced products and technological innovations is expected to drive the market.
Key Competitors
Key players in the Intelligent Vending Machine market include:
- Azkoyen Group
- Crane Co.
- FAS INTERNATIONAL S.R.L.
- Fuji Electric Co., Ltd.
- Glory Ltd.
- Canteen, Ingenico S.A.
- Intel Corporation
- Westomatic Vending Services Ltd.
- Royal Vendors, Inc.
- Digital Media Vending International LLC.
- Other prominent companies
Market Segmentation
The global Intelligent Vending Machine market is segmented based on machine type, product dispensed, application, and region:
- Machine Type:
- Free-Standing
- Wall-Mounted
- Product Dispensed:
- Salty and Savory Snacks
- Bakery Products
- Confectionery Products
- Beverages
- Others
- Application:
- Retail Sites
- Public Transport Hubs
- Offices/Institutions
- Quick Service Restaurants (QSR)
- Shopping Centers
- Others
About Report Ocean
Report Ocean is a trusted provider of market research reports, offering high-quality insights to clients across various industries. Their mission is to assist clients in achieving their top-line and bottom-line objectives, ultimately enhancing their market share in today’s competitive environment. Report Ocean is a reliable source for innovative market research reports, providing a comprehensive solution for individuals, organizations, and industries seeking valuable market intelligence.